Russian firms eye up loans as Covid-19, oil war raise pressure
Russian commodity and metals companies are rethinking financing plans and talking to bankers about loans amid the drastic change in outlook due to Covid-19 and the oil price war. But bankers say borrowers insistent on pre-coronavirus terms on their deals must lower their expectations.
London-listed steel firm Evraz last week raised a syndicated loan, with lenders honouring the pricing terms agreed before the outbreak of the coronavirus that has wreaked havoc in markets.The loan, a $750m unsecured five year credit facility, was underwritten by 10 international banks, led by ING. The facility ...
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